Question: A 10-year coupon bond with a $6,000 face value has an interest rate of 12% APR. The coupon rate is 6% and the payments are

A 10-year coupon bond with a $6,000 face value has an interest rate of 12% APR. The coupon rate is 6% and the payments are quarterly. What would be the change in the bonds value if the 10-year interest rate were to increase by 1%.

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